Welcome to our dedicated page for Expro Group Holdings Nv news (Ticker: XPRO), a resource for investors and traders seeking the latest updates and insights on Expro Group Holdings Nv stock.
Expro Group Holdings N.V. (symbol: XPRO) is a global leader in well flow management, dedicated to providing essential services and products that measure, improve, control, and process flow from high-value oil and gas wells. With a primary focus on the offshore, deepwater, and other technically challenging environments, Expro delivers mission-critical services across three key areas:
- Well Test & Appraisal Services: Offering comprehensive solutions for well testing and evaluation to ensure optimal well performance.
- Subsea, Completion & Intervention Services: Specializing in subsea well access, completion, and intervention to enhance well integrity and productivity.
- Production Services: Providing end-to-end production optimization services for both onshore and offshore applications.
Expro’s operations span the globe, delivering advanced offshore production solutions, a capability significantly enhanced by the 2021 merger with Frank's International. The company serves a diverse range of markets, with international and offshore segments constituting approximately 80% and 70% of their annual revenue, respectively.
Beyond well flow management, Expro supports well construction, well intervention, and subsea well access, effectively covering the entire well life cycle. Their innovative approach and technical expertise make them a preferred partner in the oil and gas industry, consistently delivering high-quality services and ensuring optimal well performance.
For more information, please visit: www.exprogroup.com/about-us
Expro Group Holdings reported a strong performance for Q4 and full-year 2022, with revenues of $351 million in Q4, a 5% increase from Q3. Annual revenue reached $1,279 million, a 55% rise from 2021. The company achieved $66 million in merger-related cost synergies, bringing adjusted EBITDA to $70 million in Q4, up 46%. Expro expects 2023 revenue between $1,450 to $1,550 million and adjusted EBITDA of $275 to $325 million. The company remains debt-free with total liquidity of $348 million and has been recognized for its sustainability efforts, receiving upgrades in ratings from MSCI and CDP.
Expro Group Holdings N.V. (NYSE: XPRO) will hold a conference call on February 23, 2023, to discuss its results for the fourth quarter ended December 31, 2022. The call starts at 10:00 a.m. CT and a press release will be available before market opening. Participants can pre-register for immediate access and join via dial-in or webcast. An audio replay will be accessible after the call for 12 months. Expro provides energy services across the well life cycle and operates in approximately 60 countries with around 7,600 employees, focusing on safety and service quality.
Expro (NYSE: XPRO) has announced the acquisition of cementing specialist DeltaTek Global. This strategic move enhances Expro's capabilities in the well construction cementing sector and supports DeltaTek's international expansion goals using Expro's global network. DeltaTek, based in Aberdeen, focuses on low-risk cementing technologies, improving operational efficiency and cost-effectiveness. Expro's acquisition aims to streamline the deployment of DeltaTek's innovative solutions across various markets including the Gulf of Mexico and Asia Pacific. The CEO of DeltaTek expressed optimism for leveraging Expro's customer base to enhance service adoption.
Expro Group Holdings N.V. (NYSE: XPRO) has announced the pricing of an underwritten offering of 8,000,000 shares of its common stock at $16.50 per share, upsized from a previous offering of 7,250,000 shares. The offering, led by Goldman Sachs and J.P. Morgan as joint book-running managers, is set to close on January 18, 2023. Importantly, Expro will not receive any proceeds from this offering, as the shares are being sold by affiliated funds managed by Oak Hill Advisors.
Expro Group Holdings N.V. (NYSE: XPRO) has initiated an underwritten offering of 7,250,000 shares of common stock owned by affiliated funds of Oak Hill Advisors. The underwriters have a 30-day option to purchase an additional 1,087,500 shares. Importantly, Expro will not sell any shares or receive proceeds from this offering. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the joint bookrunning managers for the offering. Expro has an effective shelf registration statement with the SEC, and interested investors should review the relevant prospectus documents before making any investment decisions.
Expro (NYSE: XPRO) has secured a $50 million contract with Apache Corporation for well intervention and integrity services in the North Sea over three years, with two optional one-year extensions. The contract involves operations across Apache's Beryl and Forties assets, including new technologies like Octopoda and Distributed Fiber Optic Sensing. This agreement demonstrates Expro's long-term commitment to the UK continental shelf and reflects their ongoing partnership with Apache spanning two decades.
Expro Group Holdings N.V. (NYSE: XPRO) reported Q3 2022 financial results with revenues of $334 million, a 7% increase from Q2 2022. The net loss widened to $18 million from $4 million in the previous quarter. Adjusted EBITDA decreased by 6% to $48 million, impacted by high startup costs on a subsea project. The company achieved $62 million in cost synergies, exceeding initial targets. Expro expects Q4 revenues between $325 million and $350 million and aims for an EBITDA margin of approximately 20%.
Expro Group Holdings N.V. (NYSE: XPRO) will hold a conference call on November 3, 2022, to discuss its quarterly results for the period ending September 30, 2022. The call will begin at 10:00 a.m. CT and will feature a press release published before market opening. Interested participants can pre-register for the call or join via dial-in or live webcast on the Investor Relations section of Expro's website. Following the call, an audio replay will be available for 12 months.
Expro provides energy services globally, focusing on safety and innovative solutions.
Expro has secured funding for two carbon-reduction projects as part of the Net Zero Technology Centre’s 2022 Open Innovation Program, aimed at enhancing clean energy solutions. The £8 million fund was awarded to 20 selected projects from 154 entries, focusing on venting and flaring technologies. Expro's projects include real-time flare emissions measurement and a solution for well testing without flaring, demonstrating its commitment to net zero. The successful projects could deliver £7.8 billion in Gross Value Added and reduce annual CO2 emissions by 3.1 million tonnes.
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